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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
Monday, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
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- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
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